Do you need a prenuptial agreement?

Marie Hillman • April 22, 2018

Do you need a prenuptial agreement?  Some need it more than others… A Louisiana matrimonial agreement, what is typically referred to as a prenup, is a […] The post Do you need a prenuptial agreement? appeared first on Hillman Law Firm.

Do you need a prenuptial agreement?  Some need it more than others…

A Louisiana matrimonial agreement, what is typically referred to as a prenup, is a document executed before the wedding takes place that dictates how assets and debts will be owned during the marriage and which legal regime the parties wish to be a part of. Louisiana is a community property state, which means absent a valid prenuptial agreement, the parties are governed by the laws of community property.

I get asked often, “Who really needs a prenup?” My general advice is that those who have children from a prior relationship should consider a prenuptial agreement to ensure their children’s inheritance rights are protected and clear. Also, those who are involved in family-owned businesses, inheriting family held assets or have assets in a trust should consider a prenuptial agreement.

Spouses may enter into a prenuptial agreement regarding any issues that are not prevented by law, but usually, the agreement covers things such as:

– each spouse’s rights to property owned individually, and jointly as a couple

– what happens to the appreciation in value of separate assets

– how assets and debts are divided if the couple divorces or one spouse dies

– whether one spouse will pay the other alimony, and if so, the amount and duration

– whether a spouse must reimburse the other for certain amounts spent during the marriage

– how the spouses will pay expenses during the marriage, and

If you think that you may need a prenuptial agreement, please give me a call. We can go over your needs/situation together and devise a contract that is right for you and your future spouse.

Disclaimer:  The information contained in this article is for general information purposes only. Nothing in this article is or should be considered legal advice. The information in this article is not intended to create an attorney-client relationship, and viewing or receipt of information from this article does not create an attorney-client relationship.

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